Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 100,176 shares of the semiconductor company’s stock after selling 2,322 shares during the period. Amalgamated Bank’s holdings in Analog Devices were worth $22,866,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. New Millennium Group LLC acquired a new stake in shares of Analog Devices in the second quarter valued at approximately $29,000. Riverview Trust Co purchased a new stake in shares of Analog Devices during the first quarter worth approximately $30,000. ORG Partners LLC raised its stake in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the last quarter. CVA Family Office LLC raised its stake in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Analog Devices during the second quarter worth approximately $37,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $226.70, for a total value of $2,267,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $11,570,541.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Edward H. Frank sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total transaction of $113,620.00. Following the completion of the transaction, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $226.70, for a total value of $2,267,000.00. Following the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $11,570,541.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,495 shares of company stock worth $7,181,458. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Stock Performance

Analog Devices stock opened at $225.35 on Wednesday. The stock’s 50-day moving average is $224.35 and its 200-day moving average is $215.68. The company has a market cap of $111.82 billion, a price-to-earnings ratio of 52.65, a price-to-earnings-growth ratio of 3.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company’s revenue was down 24.8% on a year-over-year basis. During the same period last year, the business posted $2.49 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 6.33 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.92 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. Analog Devices’s payout ratio is 85.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADI shares. Susquehanna upped their price target on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America cut their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley increased their price objective on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $245.00 price objective on shares of Analog Devices in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $251.45.

Check Out Our Latest Analysis on ADI

Analog Devices Company Profile

(Free Report)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

See Also

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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